Apr 24, 2026
More than 185,000 people in British Columbia may be owed money they don’t know about, according to new data from the BC Unclaimed Property Society.
The organization says it is currently holding over $222 million in unclaimed funds. Despite that huge sum, awareness of the fund remains low — fewer than 10% of BC residents say they’re familiar with the program.
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"Canadians are often surprised by the large amount of unclaimed money in British Columbia," said Sherry MacLennan, executive director of the BC Unclaimed Property Society, in a statement. "People are almost always unaware that we have funds belonging to them."
What counts as unclaimed money
Unclaimed funds can come from a wide range of sources, including dormant bank or credit union accounts, unpaid wages, insurance payouts, pension funds, estate distributions and real estate deposits.
In some cases, funds are tied to inheritances or benefits that were never collected.
Accounts are typically considered dormant after a period of inactivity — anywhere from one to 10 years, depending on the asset. If the owner can’t be located, the funds are transferred to the society under BC’s Unclaimed Property Act.
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How much people are getting back
In 2025, about $3.8 million was returned to 638 individuals, with an average payout of just under $6,000.
Some claims are much larger. The largest unclaimed account currently held in BC is worth $1.9 million.
Since launching in 2003, the program has returned nearly $37 million to residents, though the total pool continues to grow. Last year alone, $17.6 million in new funds was added.
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In many cases, the reason funds go unclaimed at all is due to lost contact. People move away, change names or switch financial institutions. In other cases, funds are tied to estates or accounts that fall out of view over time.
How to check if you’re owed money
The society maintains an online database where residents can search for unclaimed funds in their name. There is no cost to search or file a claim.
While not every search will turn up a result, the scale of unclaimed funds suggests it may be worth checking — particularly for those who have moved, changed jobs or may have links to older accounts.
At a time when many Canadian households are feeling the pressure, even a tiny fraction of that $222 million fund would go a long way towards managing expenses.
To find out if you have unclaimed money from the Canada Revenue Agency (CRA), log into your CRA My Account portal and look for the "Uncashed cheques" link under the "Related services" section at the bottom of the "Overview" page. This tool displays a list of any government-issued cheques that were issued at least six months ago but never deposited.
If you find a balance, you can download a pre-filled form from the site to request a replacement payment. While you're at it, residents of British Columbia can also check the BC Unclaimed Property Society for other types of forgotten funds, though federal CRA tax money is managed strictly through the federal portal.
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Steven Brennan is a freelance finance writer based in Vancouver, BC. He holds a BA and an MA from Maynooth University, Ireland. His work regularly appears at Canadian Mortgage Trends, Lowest Rates, Loans Canada and other Canadian and US brands, while also working as a ghostwriter for financial influencers.
Insurance • Jun 02
